A NY Times report says Michael Jackson’s family will benefit from his estate and that since there will no longer be personal spending, his estate will be well supported to go beyond just paying off creditors. The article also discusses Jackson’s business acumen:
Mr. Jackson’s investment in song catalogs was no accident. Contrary to his popular image as a naïf, he took an active interest in the wider music business, associates say, with a shrewdness he inherited from his father, who shaped the careers of Michael and his brothers.
Martin Bandier, chairman and chief executive of Sony/ATV, said that Michael Jackson “had a keen sense of the value of music copyrights” and was a highly effective dealmaker.
“There was nobody better to close a deal,” Mr. Bandier said. “Michael called Jerry Leiber and Mike Stoller a few years back to tell them that he wanted to buy their copyrights and that they would have a safe home at Sony/ATV.”